How to use Support and Resistance Effectively - page 88

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Fibonacci vector indicator

ATTENTION: Video should be reuploaded

can it possible to share its mq4 file please
Some good support / resistance indicators. I've tried a few out but I do prefer to draw these myself in general. I do use other indicators but for S+R I do it manually.
Sergey Golubev
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

How to Start with Metatrader 5

Sergey Golubev, 2016.08.12 19:08

If you are the coder so you can look at this indicator (inside the code) related to the market condition -

AbsoluteStrengthMarket - indicator for MetaTrader 5

This indicator with a sufficient accuracy allows defining 6 market states, exactly:

  • Bull market (Bull Market).
  • Bear market (Bear Market).
  • Correction (Correction) in a bull market.
  • Correction in a bear market (Bear Market Rally).
  • Choppy market (Choppy Market).
  • Flat market (Sideways Market).

By the way, AbsoluteStrength indicator (on the way I described it on the posts above) is used as a filter for some martingale EAs ... and there is some term (terminology) related to it - Control Martingale, means - trading in predefined market condition only. For example, trading correction/rally only, trading ranging only, trading on the flat only (for martingale scalpers), trading bullish/bearish trend only (trend following EAs), and so on.

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